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v3.19.1

Reportable Segments (Tables) | 12 Months Ended
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Dec. 31, 2018
Reportable Segments |
Summary of the reportable segments |
|  | Leasing and |  |  |  |  |  |  |  |
For the year ended December 31, 2018 |  | Related Operations |  | Spare Parts Sales |  | Eliminations |  | Total
Revenue: |  |  |  |  |  |  |  |  |  |  |  |
Lease rent revenue |  | $ | 175,609 |  | $ | — |  | $ | — |  | $ | 175,609
Maintenance reserve revenue |  |  | 87,009 |  |  | — |  |  | — |  |  | 87,009
Spare parts and equipment sales (1) |  |  | 30,122 |  |  | 41,019 |  |  | — |  |  | 71,141
Gain on sale of leased equipment (1) |  |  | 6,944 |  |  | — |  |  | — |  |  | 6,944
Other revenue |  |  | 7,579 |  |  | 1,727 |  |  | (1,662) |  |  | 7,644
Total revenue |  |  | 307,263 |  |  | 42,746 |  |  | (1,662) |  |  | 348,347
Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization expense |  |  | 76,502 |  |  | 312 |  |  | — |  |  | 76,814
Cost of spare parts and equipment sales (1) |  |  | 28,290 |  |  | 32,735 |  |  | — |  |  | 61,025
Write-down of equipment |  |  | 10,651 |  |  | — |  |  | — |  |  | 10,651
General and administrative |  |  | 67,608 |  |  | 4,413 |  |  | — |  |  | 72,021
Technical expense |  |  | 11,142 |  |  | — |  |  | — |  |  | 11,142
Net finance costs |  |  | 64,220 |  |  | — |  |  | — |  |  | 64,220
Total expenses |  |  | 258,413 |  |  | 37,460 |  |  | — |  |  | 295,873
Earnings from operations |  | $ | 48,850 |  | $ | 5,286 |  | $ | (1,662) |  | $ | 52,474
|  | Leasing and |  |  |  |  |  |  |  |
For the year ended December 31, 2017 |  | Related Operations |  | Spare Parts Sales |  | Eliminations |  | Total
Revenue: |  |  |  |  |  |  |  |  |  |  |  |
Lease rent revenue |  | $ | 130,369 |  | $ | — |  | $ | — |  | $ | 130,369
Maintenance reserve revenue |  |  | 80,189 |  |  | — |  |  | — |  |  | 80,189
Spare parts and equipment sales (2) |  |  | 22,285 |  |  | 29,138 |  |  | — |  |  | 51,423
Gain on sale of leased equipment (2) |  |  | 4,458 |  |  | 471 |  |  | — |  |  | 4,929
Other revenue |  |  | 7,702 |  |  | 1,601 |  |  | (1,373) |  |  | 7,930
Total revenue |  |  | 245,003 |  |  | 31,210 |  |  | (1,373) |  |  | 274,840
Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization expense |  |  | 65,677 |  |  | 346 |  |  | — |  |  | 66,023
Cost of spare parts and equipment sales (2) |  |  | 17,344 |  |  | 23,504 |  |  | — |  |  | 40,848
Write-down of equipment |  |  | 24,930 |  |  | — |  |  | — |  |  | 24,930
General and administrative |  |  | 52,024 |  |  | 3,713 |  |  | — |  |  | 55,737
Technical expense |  |  | 9,729 |  |  | — |  |  | — |  |  | 9,729
Net finance costs |  |  | 48,720 |  |  | — |  |  | — |  |  | 48,720
Total expenses |  |  | 218,424 |  |  | 27,563 |  |  | — |  |  | 245,987
Earnings from operations |  | $ | 26,579 |  | $ | 3,647 |  | $ | (1,373) |  | $ | 28,853
|  | Leasing and |  |  |  |  |  |  |  |
For the year ended December 31, 2016 |  | Related Operations |  | Spare Parts Sales |  | Eliminations |  | Total
Revenue: |  |  |  |  |  |  |  |  |  |  |  |
Lease rent revenue |  | $ | 119,895 |  | $ | — |  | $ | — |  | $ | 119,895
Maintenance reserve revenue |  |  | 57,091 |  |  | — |  |  | — |  |  | 57,091
Spare parts and equipment sales (2) |  |  | 3,335 |  |  | 14,448 |  |  | — |  |  | 17,783
Gain on sale of leased equipment (2) |  |  | 3,246 |  |  | 236 |  |  | — |  |  | 3,482
Other revenue |  |  | 8,711 |  |  | 1,947 |  |  | (1,635) |  |  | 9,023
Total revenue |  |  | 192,278 |  |  | 16,631 |  |  | (1,635) |  |  | 207,274
Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization expense |  |  | 65,939 |  |  | 341 |  |  | — |  |  | 66,280
Cost of spare parts and equipment sales (2) |  |  | 2,394 |  |  | 10,899 |  |  | — |  |  | 13,293
Write-down of equipment |  |  | 9,514 |  |  | — |  |  | — |  |  | 9,514
General and administrative |  |  | 44,703 |  |  | 3,077 |  |  | — |  |  | 47,780
Technical expense |  |  | 6,993 |  |  | — |  |  | — |  |  | 6,993
Net finance costs |  |  | 40,813 |  |  | 468 |  |  | — |  |  | 41,281
Total expenses |  |  | 170,356 |  |  | 14,785 |  |  | — |  |  | 185,141
Earnings from operations |  | $ | 21,922 |  | $ | 1,846 |  | $ | (1,635) |  | $ | 22,133
Total assets as of December 31, 2018 |  | $ | 1,882,860 |  | $ | 52,083 |  | $ | — |  | $ | 1,934,943
Total assets as of December 31, 2017 |  | $ | 1,556,406 |  | $ | 47,025 |  | $ | — |  | $ | 1,603,431
| (1) |  | Effective January 1, 2018, the Company adopted ASC 606 – Revenue from Contracts with Customers and has identified the transfer of engines and airframes from the lease portfolio to the Spare Parts segment for part out as sales to customers in accordance with the ordinary operations of our Spare Parts reportable segment. As such, the Company presents the sale of these assets on a gross basis and have reclassified the gross revenue and costs on sale to the Spare parts and equipment sales and Cost of spare parts and equipment sales line items from the net gain (loss) presentation within the Gain on sale of leased equipment line item.
| (2) |  | The Company adopted ASC 606 on January 1, 2018, using the modified retrospective approach applied only to contracts not completed as of the date of adoption, with no restatement of comparative periods. Therefore, the comparative information has not been adjusted and continues to be reported under ASC Topic 605 – Revenue Recognition.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8721-108599 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 + Details
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